Hong Kong Monetary Authority: The composite interest rate was 2.52% at the end of August, a decrease of 6 basis points compared to the previous month.

On September 20th, the Hong Kong Monetary Authority announced the composite interest rate as of the end of August 2024. The composite interest rate, which reflects the average funding cost of banks, was 2.52% at the end of August 2024, a decrease of 6 basis points from 2.58% at the end of July 2024. The decrease in the composite interest rate mainly reflects a reduction in the weighted funding cost of deposits and interbank funds during the month.